Low growth can be used by the ‘recovery’ and nearby recession camps to support their claims.  As the economy is on the cusp of growth, the recovery camp argues that the growth will increase.  The recession around the corner camp says the data supports a tip over into recession.

Both camps have an argument but the ‘fox’ in me argues that an oscillation with fed intervention at times is more likely. Japan has been able to manage low growth for 20 years!